White House CEA Report: Prescription drug costs fall 11 percent under President Trump

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WASHINGTON D.C. – While some  of the mainstream media love to conveniently ignore the successes of the Trump administration, it’s hard to ignore wins like this.

In a recent report released by the White House Council of Economic Advisors, it showed that the prices of prescription medications have dropped over 11 percent while Donald Trump has been in office.

Coincidence? We think not.

Specifically, the White House CEA report showed the correlation between the president’s policies while in office to that of the reduction in drug prices.

While former president Barack Obama and his administration were in office, the costs of prescription drugs were steadily increasing year after year. However, after Trump took office, obtaining medications started to become a  lot friendlier to one’s wallet.

This was somewhat of an amazing phenomenon, considering that one would have believed that drug costs would have continued to escalate after 2016’s election.  The White House CEA noted in the report:

“In 2018, prescription drug prices even declined in nominal terms over the calendar year for the first time since 1972.”

So, how does a sitting president actually manage to make prescription drugs cheaper over time?

Well, the CEA stated that much of the price drop’s origin points back to when Trump signed the 2017 Drug Competition Action Plan and the 2018 Strategic Policy Roadmap.

These actions helped cultivate a better environment within the economy for “choice and price competition in the biopharmaceutical markets.”

The council continued on that notion stating:

“We estimate that the results of these actions will save consumers almost 10 percent on retail prescription drugs, which results in an increase of $32 billion per year in the purchasing power of the incomes of Americans (including both consumers and producers).”

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This is a pretty interesting fact. If you think healthcare isn’t going to be a serious issue for the presidential election 2020 – think again. It’s a very big deal.

A recent poll conducted by the Kaiser Family Foundation showed that healthcare is the top issue when it pertains to voters, both aligned to a party and those most capable of being swayed.

Swing voters noted that healthcare was the largest motivator for them to participate in this upcoming election.  Surely, you had better believe that President Trump will remind everyone exactly who helped lower drug costs.

President Trump’s agenda, where it concerns healthcare related costs, is to continue to hone in on those prescription drug prices. During this most recent State of the Union address, the president stated that he’ll keep working to lower prescription medication costs.

During that address, Trump stated:

“My administration is also taking on the big pharmaceutical companies. We have approved a record number of affordable generic drugs, and medicines are being approved by the F.D.A. at a faster clip than ever before.

And I was pleased to announce last year that, for the first time in 51 years, the cost of prescription drugs actually went down.”

The president didn’t stop there either. He alluded to wanting to see the passing of Republican Senator Chuck Grassley’s Prescription Drug Pricing Reduction Act:

“Congress can reduce drug prices substantially from current levels. I’ve been speaking to Senator Chuck Grassley of Iowa and others in Congress in order to get something on drug pricing done, and done quickly and properly.

I’m calling for bipartisan legislation that achieves the goal of dramatically lowering prescription drug prices. Get a bill on my desk, and I will sign it into law immediately.”

 If we can reach a level where healthcare related costs can be reduced, everyone who frequents their local pharmacy is going to win.

Vote wisely this year.

Speaking of healthcare, let’s look at California. 

It looks like California’s unfunded pension burden of $1 trillion dollars is of no concern to Gov Gavin Newsom, who fancies himself as a future presidential candidate, probably in 2024.

After all, California fancies itself a sanctuary for anyone who wants to move there, be they legal or illegal.

Last month, Newsom unveiled a $222 billion state budget that proposes to use $80.5 million to extend health coverage to 27,000 illegal aliens in the state.

The state, which fancies itself a “sanctuary” where illegals are welcome with open arms, in many cases to commit crimes and even kill people, is in the throes of a homeless problem and its two major cities, San Francisco and Los Angeles are getting a reputation for feces infested ratholes.

But we are worried about extending health insurance for illegals. Got it.

Since California started its state-run health care program, it has steadily added different groups of illegal aliens to the program. The latest expansion, which includes illegals 65 and over has gotten the attention of people who question the cost of adding this demographic, which is more expensive to insure due to increased health issues.

State Sen. Patricia Bates told the Los Angeles Times that extending coverage would increase wait times and magnify doctor shortages.

“There are issues with access,” she said.

She said extending coverage to more people when those currently enrolled struggle to get appointments would constitute a “false promise.”

The number of people who will receive coverage under the expansion is relatively small in the grand scheme of things, and the estimated costs are a fraction of the state budget.

However, the state’s health insurance program, Medi-Cal already covers one-third of state residents. Critics of expanding the program say it is already struggling with long wait times (can you say Canada?) because of a shortage of doctors who are willing to accept the state’s low reimbursement rates.

So, what does an already broke state do when it has a shortage of doctors? Pay off student loans to coerce, um, convince doctors to participate in Medi-Cal. The program requires physicians or dentists to commit to taking 30% of their caseloads from Medi-Cal patients.

Supporters of the program believe this is a good step toward eventual universal health coverage in the state, which was part of Newsom’s campaign platform.

Anthony Wright, executive director of Health Access California, a consumer advocacy group, believes it’s a step in the right direction.

“We believe fundamentally that primary and preventative care makes our healthcare system more efficient and effective for everyone,” he said.

“It’s important that we take these important steps to provide real relief to Californians who are excluded due to eligibility or affordability.”

He said it’s not right.

“For many of these seniors, they have made a lifetime of contributions to California—to our economy, tax base and our society—and right now they are excluded from healthcare programs,” Wright said.

“It makes sense to focus on those who need this the most. It doesn’t mean we don’t want to get everyone, so we will continue to press on that as well.”

Got it. Illegals over citizens. Right in the California playbook.

Medi-Cal is funded by both state and federal money, however Obamacare prevents the use of federal dollars for covering illegal immigrants, so responsibility for that falls strictly on California.

California residents just might be better off if the state slid into the Pacific. It would probably be a lot less painful. 


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